Dr Cosmas Maduka (Coscharis Group)

Meet an industrialist and Philanthropist of huge repute who is among the creme de la creme of the Nigerian Business Scene.

Welcome to Logbaby’s Biography of Dr Cosmas Maduka.

SUMMARY

Name: Cosmas Maduabuchukwu Maduka

Business or Nickname: Dr Cosmas Maduka

Date of Birth: December 24th, 1958

Relationship Status: Married

Occupation: Business Man

Net Worth: $1 billion (₦305 billion)

INTRODUCTION

Dr Cosmas Maduka is a notable figure in the Nigerian Business Sector and the CEO of Coscharis Group of Companies.

EARLY LIFE AND EDUCATION

He was born in Jos on December 24th, 1958 to Mr. and Mrs. Peter and Rose Maduka both from Nnewi Anambra State, Nigeria. His father died in 1962 when he was only 4 and this led to his mother being the only one catering for him. At the age of 7 when he was in Primary 3 he was withdrawn from school due to lack of resources, in order to assist his mother he hawked akara (Bean Cakes) and climbed palm trees,cutting palm fruits for elderly women for which he was paid 3 Pence, which he contributed to the up keep of the family but when things became un bearable he went to live with his grand mother.

In 1970 he was sent to his uncle who resided in Ebute Metta area of Lagos and he accepted him as an apprentice in his auto shop at 88 Griffith Street. His uncle had no place to stay and he usually sleept at his friend’s house while Cosmas slept in the shop at the close of work.

As a result of his hard work, honesty and dedication he was usually sent on sensitive errands for his uncle and at 14 he was sent to work in their branches at Sokoto and Nnewi.

BUSINESS BEGINS

In 1975 his uncle terminated his apprenticeship because he went to a church program thereby absenting himself from work; he was later settled with a amount sum of ₦200 with which his uncle told him to go and continue his fellowship. With the money he recieved he entered into a joint business (Maduka Brothers) with his brother which eventually shut down and they parted ways. He made an additional ₦100 adding to the ₦200 he had as Capital and also made a joint venture with his friend Dave named “CosDave” which also failed and then he started Coscharis (a name he coined from his name Cosmas and his wife’s name Charity who he married when he was 19). With Coscharis he was a sole proprietor, buying and selling motorcycle spare parts from Boulus Enterprises and he would scratch the address so no one would know where he bought it from. His capital rose to ₦3000 which he lost fast when he tried to import goods and got the wrong consignment, this was another trial time for him as he owed his landlord for several months and his shop was eventually closed but he was not defeated by these events, He got a scale which was a wedding gift and took it to the market and for everyone who climbed his scale he collected 10kobo, his wife also got a job to support their family while he gradually built up another business capital.

HIS CAREER

His breakthrough came in 1982 when the Nigerian government decided to grant import licenses to ten motor companies and Coscharis Motors was selected.

In 1983 Coscharis group was incorporated, dealing in importation of auto spare parts for Japanese Vehicles and related auto products.

Coscharis group is one of the pioneering institutions for Modern autopart and auto dealership in Nigeria, Its first head office opened 1989 is at Lagos.

In 1987 its ultramodern complex was commissioned at Victoria Island Lagos and in 1998 the group secured right to market BMW and Range rover brands in Nigeria.

In 1999 his company completed a state of art Ultra-modern sales and showroom in Maza Maza, Lagos; it was commissioned by the then Nigerian Vice-President Alhaji Atiku Abubakar.

In 2000 a sales and show room were commissioned in Central Business area in Abuja.

In 2001 the company diversified into sale of American car brands.

The company has partnered with notable companies and banks like Epe Spa and Resort Centre, Access bank, and Stanbic IBTC. Coscharis Showroom Epe, Lagos

Coscharis Group has more than 26 branches in Nigeria and is equally present in other African countries like Ghana, Gabon and Cote D’Ivoire and its operations spans in major sectors of the economy like Automobile, Medical, Foods & Beverages, Information Technology, Engineering and Agriculture.

Coscharis Group's interest spread beyond the automobile sector with subsidiaries such as Coscharis Technology Ltd that plays big within the ICT sector representing various global brands in Nigeria. Likewise Coscharis' interest in the medical sector is present in Coscharis Medical & Foods Ltd and CG Biostadt. As a result of further diversification of business focus, the Group entered into a Private - Public initiative to engage in the agricultural sector of the economy with the establishment of Coscharis Farms Ltd which aims to become of one of the largest rice producing farms in Nigeria in the nearest future. Coscharis in a bid to consolidate business in the manufacturing sector undertook the bottling and distribution of sachet and table water via Coscharis Beverages Ltd established in 2002 and in 2014 embarked on assembly of Ford rangers in Nigeria through Coscharis Motors Assembly Ltd.

Coscharis Head Office Awoyaya, Lekki, Lagos.

PERSONAL LIFE

He is married to Mrs. Charity maduka with whom he has 5 children. He is one of the few that believe in Nigeria shown in his actions as he made all his children go to Nigerian Universities.

His first son Cosmas Maduka Junior got married in 2015.

SCANDAL

In 2012 he had a face off with the boss of Capital Oil and Gas Ifeanyi Ubah on a deal gone bad which led to the arrest and remandement of the oil Guru for 2 weeks.